By Stephanie Kelly NEW YORK (Reuters) -Oil prices fell 4% on Wednesday, extending steep losses from the previous session after the U.S. Federal Reserve raised interest rates and as investors fretted about the economy. Brent futures settled $2.99 lower, or 4%, to $72.33 a barrel, the global benchmark’s lowest close since December 2021. Brent hit…
WASHINGTON (Reuters) – Senate Majority Leader Chuck Schumer said senators will consider legislation to bolster the Biden administration’s ability to crackdown on popular video sharing app TikTok as they craft wide-ranging legislation to address Chinese threats. In March, Senators Mark Warner and John Thune joined by 24 other senators proposed the Restrict Act to grant…
By Alexander Ratz, Sarah Marsh and Valerie Volcovici BERLIN (Reuters) – U.S. climate envoy John Kerry said on Wednesday China has invited him to visit “in the near term” for talks on averting a global climate change crisis even as diplomatic relations between the world’s two biggest greenhouse gas emitters remain tense. The United States…
By Patricia Zengerle and David Shepardson WASHINGTON (Reuters) – U.S. Senate Democrats launched a renewed effort to stave off competition from China on Wednesday, planning legislation to boost the country’s ability to face up to the Asian powerhouse on issues from technology to security and threats to Taiwan. After passing a sweeping bill last year…
(Reuters) – Russia’s economy contracted by 2.2% in the first quarter of 2023 in annual terms, the economy ministry estimated on Wednesday, down from growth of 3% in the same period last year. The ministry estimated that gross domestic product (GDP) fell 1.1% year-on-year in March, an improvement on a revised 2.9% drop in February….
By David Shepardson WASHINGTON (Reuters) -U.S. Senator Marcio Rubio on Wednesday asked the Biden administration to investigate Ford Motor Co’s plan to partner with PT Vale Indonesia and China’s Zhejiang Huayou Cobalt in a $4.5 billion nickel processing plant in Indonesia. Rubio, who is the top Republican on the Senate Intelligence Committee, said the venture…
By Karen Lema (Reuters) – The United States stands with treaty ally the Philippines in the face of harassment by China’s coast guard in the South China Sea and remains deeply concerned about “intimidation” by Beijing, a senior U.S. official said on Tuesday. A visit to the United States this week by Philippine President Ferdinand…
WASHINGTON (Reuters) – U.S. Secretary of State Antony Blinken said on Wednesday he was hopeful he could reschedule a visit to China this year after his planned trip in February was canceled following the appearance of a Chinese high altitude balloon over the United States. “I am,” Blinken said in an interview with the Washington…
By Eric Onstad and Ashitha Shivaprasad LONDON/BENGALURU (Reuters) – Copper prices are due to recover slightly in coming months, supported by low inventories, but the upside will be curbed by weak physical demand in China and the threat of a global recession, a Reuters poll showed. Copper prices have been gradually losing steam since hitting…
By Andrea Shalal WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen will travel to Niigata, Japan next week to participate in the Group of Seven (G7) finance ministers and central bank governors meeting, the Treasury Department said on Wednesday. Treasury said Yellen would work with G7 partners to strengthen the global economy, including by coordinating…
